Ok so basically the biggest mistake today was to trade with just 1 car, don't ask me why, but after yesterday buffet I thought it could have been a good idea to be on a diet. Tell you what, with 1 contract you have to be nearly perfect, today it made the difference not having a second to let run. (good experience anyway) Now wait to see how I screwed in the second part ..lol
Scaling out works I'll always insist on that one. Peace of mind is what you buy with the first scale out. Plus you have to get rid of greed in order to scale out and be happy. So its a two fold benefit. P.
When scalping I have a 3 point stop and a 1.5 target. I' move the stop as soon as the trade looks bad as suggested by master Piscuy, having a 1:1 risk reward, really doesnt work with scalping this method(my humble opinion), the problem againwas the lack of the second contract. The funny thing is I had to go over my trades to really understand it...sheesh, that tells you a lot in what kind of hypnosis I' am when I'm trading...an airplane crashing in to the building... wtf?? shut down the Tv honey!
Hope this works. Just getting the hang of attaching a chart. I have circled what looks to be a signal bar in a pullback in downtrend. ie lower high. As u can see, it turns out to be a bullish bar on close. A bearish scalp still worked out. My question is in this scenario do u prefer the signal bar or candle to be in the direction of the trend or does it not matter.